The Macroeconomics of the Arab States of the Gulf

by Espinoza, Raphael A.; Fayad, Ghada; Ananthakrishnan, Prasad

• ISBN13: 9780199683796
• ISBN10: 0199683794
• Format: Hardcover
• Copyright: 2013-12-31
• Publisher: Oxford University Press

Author Biography

Raphael A. Espinoza, Economist, Research Department, International Monetary Fund,Ghada Fayad, Economist, Middle East and Central Asia Department, International Monetary Fund,Prasad Ananthakrishnan, Senior Economist, Middle East and Central Asia Department, International Monetary Fund

Raphael Espinoza is an Economist in the Research Department at the IMF and an External Research Associate at the Oxford Centre for the Analysis of Resource Rich Economies (OxCarre), University of Oxford. He has written on development macroeconomics, the economics of resource-rich countries, and asset pricing, and has worked on Qatar, Saudi Arabia, and the U.A.E. at the IMF. He is an Ingenieur des Ponts et Chaussees and holds a PhD in Economics from the University of Oxford.

Ghada Fayad is an Economist at the Middle East and Central Asia department at the IMF and an External Research Associate at the Oxford Centre for the Analysis of Resource Rich Economies (OxCarre), University of Oxford. Her research focus is on development macroeconomics, and she has worked on Qatar and Saudi Arabia in her country assignments at the IMF. She previously worked as a Research Fellow at OxCarre, and at the United Nations Economic and Social Commission for Western Asia. She holds a PhD in economics from the University of Oxford.

Prasad Ananthakrishnan is presently the mission chief for Qatar in the Middle East and Central Asia Department at the IMF and has worked on all the GCC countries. Prior to this, he was an Advisor to Executive Director at the IMF Executive Board, representing India, Bangladesh, Bhutan, and Sri Lanka. He has previously worked in the Reserve Bank of India on issues related to monetary policy, exchange rate management, and financial sector and debt management issues. His research focus is on international macroeconomics and financial markets. He holds a PhD in International Banking and Finance from the University of Bombay, a Masters in Commerce from the University of Bombay, and an MBA in Finance from the University of Pittsburgh.

Table of Contents

Christine Lagarde: Foreword
1: Introduction
2: The Determinants of Long-Term Growth in the GCC Countries
3: Macroeconomic Impact of Migration
4: Government Spending, Subsidies, and Economic Efficiency
5: Fiscal Policy for Macroeconomic Stability
6: Monetary Policy with a Fixed Exchange Rate Regime
7: Non-Performing Loans and Financial Stability
8: Financial Markets in the GCC Countries
9: A Conclusion on the Importance of the GCC for the Wider Region
Foreword, Christine Lagarde
1. Introduction
2. The Determinants of Long-Term Growth in the GCC Countries
3. Macroeconomic Impact of Migration
4. Government Spending, Subsidies, and Economic Efficiency
5. Fiscal Policy for Macroeconomic Stability
6. Monetary Policy with a Fixed Exchange Rate Regime
7. Non-Performing Loans and Financial Stability
8. Financial Markets in the GCC Countries
9. A Conclusion on the Importance of the GCC for the Wider Region